SCI Underwriting Management, LLC, a managing insurance agency with a focus on the aging service industry, has launched four new products for the segment: property (ultimate cover); nursing home auto coverage; crime coverage form PI-ULT-009; and nursing home cyber security liability benefits. These four new products supplement SCI’s other offerings for the aging service industry market, which includes personal and general liability.
The Ultimate Property Cover Program (UC) provides a broad cause of loss coverage form for both real and personal property. This form was designed to cover property risks with above average protection and construction. The UC can be extended to include simplified language inland marine and crime coverages.
Nursing home auto coverage covers owned auto including transportation of residents; non-owned/hired auto; hired car physical damage; and rental reimbursement for private passenger vehicles. Garage keepers liability coverage is also available. Minimum liability limits are $1 million and minimum physical damage deductibles are $500/$1,000.
Crime coverage Form PI-ULT-009 provides automatic limits of $5,000 each for money and securities inside the premises, Money and securities outside the premises, and money orders and counterfeit paper currency. Any of these limits can be increased for additional premium. There is also a $25,000 limit for kidnap and ransom-extortion. The form also provides options for adding coverage for forgery or alteration, computer fraud, or employee dishonesty for additional premium.
Nursing home cyber security liability includes a number of coverages, including coverage for damages to third parties caused by a breach of network security; coverage for loss resulting from administrative or operational mistakes; breach of privacy coverage, which includes damages resulting from alleged violations of HIPAA, state, and federal privacy protection laws and regulations; and coverage for expenses resulting from a breach of consumer protection laws.
SCI Underwriting’s risk management services include professional liability risk assessment, and a one-day focused consulting review. SCI’s other risk management offerings include and AssistLine hotline for subscribing clients to obtain answers to questions and resource information related to risk reduction; online learning and an incident reporting event management service.
Based in Scituate, Mass., SCI Underwriting Management LLC is primarily backed by Lloyd’s of London. It offers a variety of insurance coverage for skilled nursing, assisted living, independent living, continuing care retirement communities, as well as home Hhealth. Part of their services includes risk assessment and risk management to target potential liabilities and minimize risk.